Opportunity Is Still Knocking
By Richie Bello
With the onset of the “pandemic” we are all facing for our health and our overall economy, the automotive industry sits in position to take one of the most major hits we have seen in decades. The travel and hospitality took the first step into what could become a long term rebound. Faced with shutting down huge parts of the economy with the limited support we are starting to see trickling down from government, we have to hang in there to avoid bankruptcy and be ramped up to open our doors again and be prepared for a stronger return.
What is the automotive industry facing?
Up to seventy five percent of our team is forced to stay home, while the dealer/operators are choking on the expense of holding on. We are all trying to take some steps to keep the sales team more productive and motivated whether they are working from their desk in the dealership, or their sofa at home. We are looking for ways to keep the sales force more productive and increase productivity while we wait for the flatline of Coronavirus.
First the facts–
China and Korea are in recovery. Look at their timeline and know we too will peak and fall over the next couple of weeks.
Americans are consumers, so when the flatline hits, they will run to the places they are most comfortable and consume.
Consumers are in the market every month as leases mature.
A 75% lease penetration prevails in the United States, with New York at 91%.
Here are my recommendations –
Be proactive and lead with conviction. This will help the dealer and the teams waiting for their leadership to lead.
Follow the government guidelines and reduce staff, as well as expenses such as advertising, promotion, digital, direct mail…all of it.
Stop facebook -unless you are reaching custom audience. I for one have not driven for 25 years and I am getting promoted for a car. That is not CUSTOM AUDIENCE. Only purchase customer audience to cannibalize the market.
Purchasing leads is a guarantee that the consumer wants you, not you pumping money into every household. Hold tight on leads that promote custom audience only.
Take advantage of the low cost of custom audience lead purchases and take advantage of offers being shared by companies so that the leads keep flowing.
Motivate your sales people and keep the sales flowing by providing your sales people with these purchased leads that they can work from home.
Have your sales people reference the current situation, and an offer they can’t refuse. Then make an appointment to come in or go to them to access their vehicle.
Look at leases that are coming up in the next 90 days and reach those consumers with a promotion. One I suggest is a cash stimulus handed to them of $300-$500 when they pick up their car. Another one that is starting to move is deferred payments til mid to late summer.
The Lakota have a mantra that we should all consider. “When the grass is green, we will recover.” We know that has a more philosophical meaning, but the weather is turning and whenever the weather turns, the flu and virus activity retracts. China and North Korea did not have the benefit of warm weather, but we do. These countries also do not have the resources or were not as informed as we now are. The “data” is in, because it happened before us. The spike here should prove to be a lot less than theirs. The government will continue to help us weigh how to protect and how to sustain. Remember, every year hundreds of thousands of people get the flu, so after this spike, we may all be able to face this strain next year with a flu shot. For now, remain proactive and lead the curve by purchasing leads.
Richie Bello is offering low cost leads through ShopSmartAutos.com.
ShopSmartAutos.com is fueled by data. This site provides leads to dealers throughout the country at lower than usual and customary fees due to its data and automated bidding system. Reach out to Richie and his team at 631-578-9018. Richie will be sharing more LIVE on Game Face Monday at 1:00pm Eastern.